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(Kitco News) - Australian lithium miner Core Lithium Ltd (ASX: CXO) today reported its June quarter 2023 spodumene production of 14,685t (FY23: 18,274t) at a C1 unit cost of A$902/t (FY23: A$1,230/t).
The company said that mining commenced at the Grants open pit in September 2022 and the first parcel of direct shipping ore was produced in December 2022, adding that this was followed by a period of three months where mining ceased due to wet season conditions and water filling the pit.
Core noted that safe access to the pit was achieved in late March, with mining activity commencing shortly afterwards.
However, according to a press release, mining performance remained below expected levels during the quarter due in part to further inclement weather in April.
“Upgraded dewatering equipment installed in the pit ahead of the rainfall events in April, albeit less severe, enabled the successful discharge of water and allowed mining to continue during the month,” the company said.
Core also pointed out that its production guidance for the 12 months ending 30 June 2024 (FY24) is between 80,000 tonnes and 90,000 tonnes (FY23: 18,274 tonnes) of spodumene concentrate at a C1 cost of between A$1,165-A$1,250 per tonne (FY23:A$1,230/t).
“The main drivers of the lower production compared to the 2021 DFS estimates are lower lithia recoveries, a revised mine plan which has seen the layback of the pit walls and more conservative mining assumptions, following the company’s experience in the recent wet season,” it added.
Core Lithium is an Australian hard-rock lithium mining company that owns and operates the Finniss lithium operation on the Cox Peninsula, south-west and 88km by sealed road from the Darwin Port, Northern Territory.
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